I just bought a very clean one-owner 1997 960 Wagon to use as a second car. I've been driving BMWs for years and am really impressed with the 960. Anyway, being a used car with 161K miles on it, it has a few issues. Hopefully the only two that are really concerning me are common enough that I can get an accurate online diagnosis.

The first is that there is a noticeable squeaking or rubbing sound whenever the front suspension is compressed and released. It sounds like it might simply need to have the front suspension bushings lubed. Am I correct? Is there a specific procedure I should follow?

The second has me a little more worried. When turning the steering wheel, there is an audible "clunk" coming from somewhere under the car. I can't feel anything through the wheel, and it's not particularly loud. But it's conistent and I'd like to know what I can/should do about it.